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Quarterly Report For The Financial Period Ended 31 March 2018

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Unaudited Condensed Consolidated Statements Of Comprehensive Income
For The Financial Period Ended 31 March 2018

Unaudited Condensed Consolidated Statements Of Comprehensive Income


Unaudited Condensed Consolidated Statements Of Financial Position
As At 31 March 2018

Unaudited Condensed Consolidated Statements Of Financial Position

Review of Performance for the Current Quarter and Financial Year-to-date

The Group total revenue for the current quarter only consists of IT business segment as there was no revenue in the Online Game business segment for the current quarter due to the cessation of support by the appointed vendors. The Group has lodged a writ of summons and statement of claim to the High Court to seek the return and/or handover all the business, financial and/or management information and records in the possession, custody and/or control of the vendors.

In view of the above, the review of performance for the current quarter by operating business segment is as follows :-

  1. IT Business

    The revenue for the current quarter is RM4.02 million compared to RM2.88 million in the correspondence quarter a year ago, a jump of 39.58%. Despite the huge jump in revenue, the IT business segment remain as a loss before taxation of RM0.87 million in the current quarter compare to a loss before taxation of RM0.13 million a year ago. The loss in the current quarter was mainly due to increase of administration expenses in the current quarter.

  2. Online Games

    There is no revenue of the online games business segment in the current quarter compared to the correspondence quarter of RM11.94 million. This is mainly due to the cessation of support by the appointed vendors. The Group has lodged a Writ of Summons and Statement of Claim to High Court of Malaya at Kuala Lumpur to demand the return and/or handover all the business, financial and/or management information and records in the possession, custody and/or control of the vendor in order to put online games business segment back on track.

    The Group will make further announcement in relation to the material development of the said litigation from time to time.

Pursuant to the change of financial year ended 31 Dec 2017 to 30 Jun 2018, no comparative figures for the period to date as presented.

Future Prospects

The business environment of the Group remain challenging and competitive in the year 2018. The management will continue to explore new business opportunity on its core activities in IT business to sustain the performance of the Group.